Furiwake
(Dividing Lines) |
Characteristic of Candlesticks: Reversal
Relevance of Candlesticks: Bullish
Prior Trend of Candlesticks: Bullish
Reliability of Candlesticks : Recommended
Confirmation of Candlesticks: Reliable
Candlestick Patterns Key Reference |
DESCRIPTION
Furiwake (Dividing Lines) pattern is identified by the first long bearish candlestick during an uptrend market.
However the next following candlestick open and move upward from the initial open session of the previous long bearish candlestick.
This pattern has the same opening price and in th opposite trend direction and it is the exact reverse of Meeting Line pattern.
The Furiwake (Dividing Lines) pattern is a reliable uptrend continuation pattern.
PATTERN RECOGNITION
1. Furiwake (Dividing Lines) pattern can be identified by an uptrend.
2. Refering to above diagram, we will see the first long bearish candlestick during the uptrend market when there is an uptrend.
3. Then we will see the next following bullish candlestick open and move upward from the initial open session of the previous long bearish candlestick.
EXPLAINATION
The Furiwake (Dividing Lines) pattern happen during an uptrend when you see a long bearish candlestick which indicate a pullback which caused some concern from the buyers.
But the next candlestick open upward and close higher which give a strong confidence of the bullish momentum as the trend still have strength to carry on an uptrend and buyers jump back into it and move the prices higher.
The Continuation Patterns imply that a trend has temporary paused and will continue its original trend rather than reversal.
POINT TO NOTE
The Furiwake (Dividing Lines) pattern is the exact opposite of the Deaisen (Meeting Lines) pattern.
The volume on the pullback session from the first long bearish candlestick should be lower than average.
CANDLESTICK PATTERNS KEY REFERENCE
Irrespective of Color (Can be bullish or bearish) |
Uptrend |
Consolidation |
Downtrend |
ANTICIPATED DIRECTION OF TREND
Lighter Arrow = Lower Probability
Solid Arrow = Higher Probability
More Likely to go sideway, Less likely to rally
|
More likely to rally, Less likely to go sideways
|
More likely to go sideway, Less likely to fall
|
More likely to fall, Less likely to go sideways |
